Ethereum treasury firm SharpLink Gaming (NASDAQ: SBET) has deployed and staked $170 million worth of ether on Linea, the Layer 2 blockchain from Consensys. This marks the latest phase in its strategy to optimize yield from its large ETH holdings.
In a Thursday post on X, SharpLink described the deployment as a “first-of-its-kind enhanced yield” structure that layers native Ethereum staking yield with restaking rewards from EigenCloud, plus direct incentives from Linea and Ether.fi, all within custody handled by Anchorage.
“This is the most productive way to hold ETH with institutional-grade infrastructure,” the company said.
SharpLink CEO Joseph Chalom also weighed in on the broader significance of the move, stating on X: “2026 marks the beginning of Ethereum’s ‘productive era’ and a major step function in its adoption curve.”
The $170 million deployment builds on SharpLink’s previously disclosed plan to stake $200 million worth of ether across Linea and affiliated restaking partners. The company said in October that the deployment on Linea would allow it to capture “highly competitive, differentiated, risk-adjusted, ETH-denominated returns.”
The deployment also comes after SharpLink’s leadership transition in December 2025, with Chalom’s appointment as sole CEO to focus on ecosystem partnerships and staking operations as core strategic priorities.
Since pivoting into crypto in mid-2025, SharpLink has amassed the second-largest corporate ETH treasuries in the market. It currently holds 864,840 ETH, worth about $2.7 billion, according to its website.
On Wednesday, the company disclosed that it generated 438 ETH in staking rewards last week, bringing cumulative staking rewards to more than 10,657 ETH, or about $33.1 million at current market prices.
SharpLink’s shares closed up 1.38% at $10.28 on Nasdaq on Thursday. The stock has risen 12.6% over the past five days but remains down 39.7% over the past six months.
Bitmine ramps up staking
Meanwhile, Bitmine, the largest ETH treasury company, has also been expanding its Ethereum staking operations. Crypto data analysis provider Onchain Lens said in a series of X posts that Bitmine further staked a total of 186,304 ETH, worth roughly $577.5 million, on Thursday.
While Bitmine has not officially disclosed the staked amount, EmberCN noted that Bitmine has now staked 1.03 million ETH, worth about $3.2 billion. That figure represents roughly a quarter of the company’s total ETH holdings of 4.1 million ETH.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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